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Proactive Investors United Kingdom

19/03/10
Clark T.plc: T Clarke buys D&S Engineering for up to £11.6m
19/03/10
UK Market Wrap: Carnival Corp, BAE Systems, InterContinental Hotels, Whitbread and Aggreko rise to bolster FTSE 100
19/03/10
UK Market Wrap: Lloyds and Royal Bank of Scotland surge to lift FTSE 100, commodities mixed
19/03/10
UK Market Wrap: FTSE 100 trims gains as Dow Jones, S&P 500 and NASDAQ decline
19/03/10
Nexen Inc.: Nexen and Shell make significant oil discovery at Appomattox, Gulf of Mexico
19/03/10
Royal Dutch Shell: Nexen and Shell make significant oil discovery at Appomattox, Gulf of Mexico
19/03/10
Brent Crude Oil: BP, BG Group, Premier Oil, Dana Petroleum, Melrose and Salamander Energy rise despite lower crude
19/03/10
Brent Crude Oil: US crude slips below $82 on demand concerns, currency movements
19/03/10
Nighthawk Energy: Daniel Stewart looks ahead to Nighthawk Energy’s development events
19/03/10
Stobart Group: Stobart gets govt approval for Southend Airport runway extension ahead of London Olympics

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Fox-Davies Capital specialises in international resource companies and has a substantial background in emerging markets. FDC is dedicated to providing in depth sector, commodity, regional and company specific reports, driven by the aim of being specialist providers of high quality analysis on natural resource companies worldwide. Find out more at www.fox-davies.com

Friday, March 19, 2010

Fox-Davies Capital Daily Newsflash including Gulfsands Petroleum, Borders and Southern and Cluff Gold

Gulfsands Petroleum (GPX) rejected the unsolicited approach received yesterday regarding a possible offer for the Company. The Board is unanimously of the view that the proposal was wholly inadequate and materially undervalued the Company. The Board is confident in Gulfsands' strategy to become one of the pre-eminent exploration and production companies in the Middle East and to continue to demonstrate tangible growth.

Comment: The FT was reporting this morning that the approach might have come from a large Indian oil company at a likely level of 350p. Gulfsands’ board, advised by Royal Bank of Canada, is understood to be unwilling to recommend any offer that is below 400p.

Borders and Southern (BOR) announced that the Company has appointed Mirabaud Securities LLP as its joint broker with immediate effect. Panmure Gordon & Co continues to act as NOMAD and joint broker and Ocean Equities Ltd continues to act as joint broker to the Company.

Cluff Gold (CLF) announced record gold production of 19,288oz for the first two months of 2010. Operating cash costs for the two months were US$547/oz of fine gold produced at Kalsaka and US$797/oz of fine gold produced at Angovia.

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Proactive Investors Australia

Fox-Davies Capital Daily Newsflash including Gulfsands Petroleum, Borders and Southern and Cluff Gold

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